Sometimes Bankruptcy is Part of the Game

If you have ever had to deal with the constant calling of bill collectors, you have probably considered contacting a bankruptcy attorney in Ocean County more than once. When you are being crushed under the weight of onerous financial burdens, almost any way out seems appealing. However, many people who are dealing with massive debt hesitate to file for bankruptcy due to the embarrassment that they believe will be involved. The fact of the matter is though that filing for bankruptcy may be the most responsible thing for you to do at this point. And, despite the stigma that you might think would be attached to visiting with a bankruptcy attorney, individuals and corporations do it every day.

Take, for example, Atari. The 40-year-old gaming pioneer that gave the world “Pong” and games like “Centipede” recently filed for bankruptcy. The company is looking to liquidate its assets and rebuild its existing structure in order to gain a fresh start in the industry. According to the CEO of the company, filing for bankruptcy was in the company’s best interest and in the best interests of shareholders who will gain the maximum amount of proceeds with the filing. An attorney for the company noted that none of the company’s creditors is owed more than $250,000.

For Atari, bankruptcy is the only way to remain in the game and it was a much more preferable option than seeing the company go under altogether. Atari is not alone. For many individuals and families, working with a bankruptcy attorney is really the only way for them to be able to stay in the game, so to speak. And, the advantage of bankruptcy is that, in many instances, it will provide you with the opportunity to start a new game altogether. That is, whereas companies “restructure” when they file for bankruptcy, individuals also have the opportunity to restructure in that once the bankruptcy is complete, they start with all new pieces and a brand new game board.

Of course, bankruptcy is not without its difficulties and it is certainly not something that any individual or business would want to enter into without the full legal counsel of an experienced and knowledgeable bankruptcy attorney in Ocean County area who can provide the necessary guidance and representation that is needed.

If you think that filing for bankruptcy may be the only way for you to remain in the game, contact an attorney in the Ocean County area who has the experience and expertise to guide you through the filing process and who can help you to get back to a position where winning is actually possible.

The Law Offices of Lee D. Gottesman provides a variety of legal bankruptcy service to clients in Ocean County.